10 p.c. rise forecast
Workers should expect an increase of up to 10 per cent in the wage round, the Democrat Party leader, Mr Terry Heffernan, said yesterday. “The economy cannot afford a wage round which fails to give back to workers what they have lost in inflation,” he said. There was an “unholy alliance” between the Government and Round Table employers to squeeze the wage round as close to zero as possible. “With so many businesses dependent on the spending power of ordinary workers, it would be economic suicide for employers to stonewall the worthwhile increases their employees need,” he said. More money in the hands of those on lower incomes was recycled through the local economy to the benefit of all: “Large increases and massive tax cuts for corporate executives and politicians, at the top end of the scale, simply led to more spending on imported luxuries and overseas trips of no benefit to the economy,” he said. —
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Press, 12 September 1988, Page 7
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16010 p.c. rise forecast Press, 12 September 1988, Page 7
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